BMTC 4Q sales rise 8.4%
By Furniture Today Staff -- Furniture Today, February 23, 2004
MONTREAL — MONTREAL — BMTC Group, Quebec's largest retailer of furniture, bedding and accessories, said sales in the fourth quarter rose 8.4% to C$212.6 million, although net income slipped 14.2% to C$14.2 million.
For the year, revenues totalled C$802.9 million, an increase of 6.6% over 2002. Net income was just under C$37 million, a dip of 3.8% from the previous year's C$38.4 million.
During 2003, BMTC spent C$54.3 million redeeming 1.2 million of its Class A voting shares and 20,000 Class B multiple voting shares. As of Feb. 12, 2004, the company had about 21.8 million Class A and 15.8 million Class B voting shares outstanding.
BMTC operates 23 stores in Quebec under its Brault & Martineau and Ameublements Tanguay banners.
